Oddbean new post about | logout
 All miners sell bitcoin to one degree or another. They have to cover their opex 
 MARA went full HODL in July, and has been over periods. I just think this meme would be stronger with any other miner. MARA is actively buying bitcoin at more scale than anyone but MSTR. Makes Semler and Metaplanet look like chumps. I would put IREN in the meme personally. 
 I’m not that familiar with Mara’s financials in particular, but the point stands that miners sell. Mara will likely sell again in the future at some point. 
 They will probably sell 50% mined in the next bear market, true. But their stack will continue to INCREASE, as it has every month since at least 2020. 

My only point is they are probably the worst miner to pick for this meme.